Considering the lack of significant changes in demand in the Romanian domestic market, the Romanian rebar producer and local long steel spot traders have decided to keep their offers stable week on week. However, according to market participants, in addition to the lack of needed dimensions, the sole producer is experiencing low stocks and availability issues.
Over the past week, Romania’s sole rebar producer has kept its domestic rebar offers at €575-580/mt ex-works. Similarly, Romanian rebar traders have kept their offers stable at €570-590/mt ex-warehouse.
“Prices had a tendency to increase due to scrap price movements, but the chances of this happening are small because demand is not supportive,” a trader told SteelOrbis.
As for the wire rod market, most traders have quoted stable offers week on week, despite sluggish demand, at €580-595/mt ex-warehouse.
Meanwhile, this week, there have been a number of import offers, but no deals have been done since Romanian traders are still assessing their options. According to sources, offers for rebar from Moldova have remained stable at €590-600/mt CPT. Likewise, Egypt has also maintained its rebar and wire rod offer prices unchanged at €535-540/mt CFR and €540-545/mt CFR, respectively. Greece, on the other hand, has offered rebar and wire rod at €645-650/mt CFR and €635-640/mt CFR, respectively. Meanwhile, Turkey's average rebar price has increased by €5/mt to €540-555/mt CFR Romania, with a €1 = $1.11 exchange rate and around €25-30/mt freight.